21st Century Insurance offers mail-order automobile insurance to preferred risk drivers in the Los Angeles area. The
Question:
TC = $41,000,000 + $500Q + $0.005Q2
MC = ∂TC/∂Q = $500 + $0.01Q
A. Calculate the profit maximizing activity level.
B. Calculate the company's optimal profit, and optimal profit as a percentage of sales revenue (profit margin).
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A Set MR MC and solve for Q to find the profitmaximizing activity level MR MC 1500 500 001Q 001...View the full answer
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